Disrupt and grow - India CEO Outlook 2017_Web

19 | Disrupt and grow — India CEO Outlook 2017
Transforming, in pursuit of excellence
For organisations
looking for a longterm
play and
success in the
dynamic business
environment,
business
transformation has
become prominent
Business transformation has
become a key imperative for
CEOs (especially for emerging
markets such as India), given
the dynamic environment they
are operating in. With a spurt of
technological advancements,
consumer touchpoints and
evolving customer engagement
channels, it is clear to CEOs
that strategies of the past may
not work in future, leaving them
with no choice but to adapt, reimagine,
reinvent and transform.
54%
CEOs
are likely to
transform their
organisations
into significantly
different entities
over the three years
According to the survey, 81
per cent of the CEOs have
made big investments in
the last 12 months towards
innovation, digital infrastructure,
governance and risks, emerging
technologies, new skill
acquisition and development,
and regulatory compliance —
with the primary objective of
transforming their business' and
operating models to become
more relevant in the current
scenario.
Considering most CEOs
aim towards improving their
bottom-line growth, getting
closer to customers, increasing
productivity, and strengthening
organisational resilience, the
investments in these areas will
continue over the next three
years.
According to the survey, a
multifaceted transformation
is on the cards, as 66 per cent
of the CEOs worry about their
own inabilities to disrupt the
business models in the industry;
63 per cent worry about losing
their market leadership position
based on new competing
services/products; 47 per cent
worry about new entrants
(not currently perceived as
competition) disrupting their
business; and, 44 per cent worry
about the competitors’ ability to
take business away from their
organisations. CEOs believe
that the emerging technologies,
time to product or services’
obsolescence and changing
customer expectations could
form the key pillars of business
transformation. Therefore, CEOs
are pursuing different business
model transformations as a route
towards growth.
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